Rio Tinto
(ASX:RIO) has sacked its Energy & Minerals chief executive, Alan Davies, and Legal executive, Debra Valentine.
Rio Tinto says these senior executives were sacked following an internal investigation into emails regarding contracts they facilitated with a “consultant”, back in 2011. This consultant provided “advisory services” on the company’s Simandou iron ore project in Guinea.
The mining company’s board decided that Davies and Valentine failed to meet the standards expected of them under its global code of conduct.
Bold Baatar will replace Davies as Energy & Minerals chief executive. While Chris Lynch will act as the new chief legal counsel until Rio Tinto finds a permanent replacement for Valentine.
Rio Tinto posted a net profit of $2.3 billion at 30 June 2016.
